US: Legacy Estate seeks court OK for sale - report

Legacy Estate and owner Connaught Capital Partners each filed for Chapter 11 bankruptcy protection last November. Legacy had defaulted on loans associated with its acquisition of the Arrowood and Byron wineries from Constellation Brands last year.

Investment vehicle FAB Acquisition Co. is acting as the lead bidder for the unnamed assets that Legacy wants to sell, Dow Jones said yesterday (19 July)

Judge Alan Jaroslovsky of the US Bankruptcy Court in Santa Rosa, California, has scheduled a hearing for tomorrow to consider approval of the auction procedures, the news service added.

The Swedish government has confirmed that it is planning to sell off V&S Group, the owner of Absolut vodka. The centre-right government, which came to power in September, officially announced today (1...